The Bulk Oil Storage and Transportation (BOST) is set to establish ultra-modern Liquefied Petroleum Gas (LPG) storage facilities in four cities across the country.
The multi-million United States Dollar project, would be located at Tema, Kumasi, Takoradi, and Buipe, and it is going to be a Build, Operate and Transfer (BOT) project.
According to media reports, the project falls under the current management well-designed plans to make transportation of products more convenient and less expensive.
BOST, has already done all the necessary studies on the project and would invite potential investors through competitive bidding in the coming months.
When completed, the dangers associated with the transportation of LPG across the country would be reduced to the lowest level.
A top official of BOST, said that the LPG storage project was very crucial and dear to both management and board of BOST.
According to him, the current management of BOST under George Mensah Okley, would make sure that the right investor is engaged to ensure the success of the project.
He said: “BOST is presently running on serious and well-orchestrated plans to enable it to play a unique and crucial role in the storage and transportation of bulk oil.”
“For now BOST is track to roll out projects that will inure to the benefit of the whole country because both management and board are poised to do things in a diligent manner,” he said.
BOST is one of the strategic state institutions in the oil supply chain and has seen its fair share of ups and downs.
However, there are clear pointers that the present management and board are poised to change the status quo to see better BOST than it used to be.
Meanwhile, the new BOST management has taken a decision that is widely regarded as extremely wise in connection with its controversial head office building project located at Okponglo.
The $38million project was started under Kwame Awuah Darko, under the erstwhile John DramaniMahama administration was stalled for some years now because of allegations of bloated cost.
But the current management in consultation with the Board of Directors, has agreed with the company executing the project, Rolider Ghana, to have an international valuer to value the project to see if indeed the project should cost $38million as quoted.
What is more fascinating is the fact that BOST, had signed a Memorandum of Understanding (MoU) with Rolider that the two entities would accept whichever way the valuation of the project would go.
The decision of BOST was in-spite of the fact that the nation’s anti-graft agency, Economic and Organized Crime Office (EOCO), had earlier given a green light for the project to proceed.
Again, the Attorney General’s Office, has also Okayed the continuation of the project after BOST wrote to the state legal advisor for an advice on the stalled project.
An outright cancellation of the project based on bloated cost, would have created problems for the state.
George Mensah Okley, mindful of controversies on the project, worked in concert to have international valuers to work on the project to ensure its continuation or otherwise.
Credible information has it that some six companies are bidding to be the valuer.
As a mark of transparency, BOST decided to open up for a competitive bidding to have a company to do valuation of the project.
There was an audit on the building project during the tenure of Mr. Alfred ObengBoateng as the Managing Director of BOST.
Although, the audit revealed that the cost of the project was bloated, there were reservations that the audit was done in hurried manner.
The current management and board are very mindful of the implications of canceling the project and it is for that reason the project was going through international valuation.